Saga Communications FY2022 revenue up 6% to $114.9M; adjusted EPS $2.15 vs $1.85 prior year

SAGA COMMUNICATIONS INC

FY2022 net revenue $114.9M (+6.0% YoY); reported diluted EPS $1.52; adjusted diluted EPS $2.15 (excl. founder death-related costs).
Q4 revenue $30.1M (+3.3%); diluted EPS $0.70; operating income flat at $4.9M.
Declared $0.25 quarterly dividend payable Apr 7; also paid $2.00 special dividend on Jan 13.
Cash and short-term investments $46.9M at Dec 31, 2022; 2023 capex guided $5.0-5.5M.
Founder death in Aug 2022 caused one-time expenses; adjusted operating income would have risen 12.3% to $16.9M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SAGA COMMUNICATIONS INC reported the twelve-month period ended December 31, 2022 results: revenue $114.9 million, net income $9.2 million, EPS $1.52.

Period: the twelve-month period ended December 31, 2022
Revenue: $114.9 million
Net income: $9.2 million
EPS: $1.52
Result: reported results

Exact text from the filing

(313) 886-7070 Grosse Pointe Farms, MI – March 9, 2023 – Saga Communications, Inc. (Nasdaq - SGA) (the “Company” or “Saga”) reported today that net revenue increased 6.0% to $114.9 million for the twelve-month period ended December 31, 2022 compared to $108.3 million for the same period last year. Despite strong underlying performance the results were impacted by

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SAGA COMMUNICATIONS INC reported the quarter ended December 31, 2022 results: revenue $30.1 million, net income $4.3 million, EPS $0.70.

Period: the quarter ended December 31, 2022
Revenue: $30.1 million
Net income: $4.3 million
EPS: $0.70
Result: reported results

Exact text from the filing

16.8% to $13.0 million. Diluted earnings per share would have been $2.15 per share as compared to $1.85 per share for the same period last year. Net revenue increased 3.3% to $30.1 million for the quarter ended December 31, 2022 compared to $29.2 million for the same period last year. Station operating expense increased 5.9% for the quarter to $22.9 million

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Source: SEC EDGAR

accession 0001558370-23-003264

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